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Comparison of Deposit Account from Summit State Bank with 1.24% - August 2025


Long-Term Analysis of Summit State Bank with 1.24% APY and First-Lockhart National Bank with 0.60% APY

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

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$
PRODUCT
BANK
APY
STATE
AMOUNT
TERM
BANK TYPE
VS.NAT.AV.
MIN
  • 1
    LOCAL CD
    Summit State Bank
    1.24%
    -
    $50,000
    36 Month
    Bank
    1.64x (National Avg. - 0.75%)
    $10,000
     
    SCENARIO
    Year Rate
    1.24%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 620 434
    2 50,620 628 439
    3 51,248 635 445
    4 51,883 643 450
    5 52,527 651 456
    6 53,178 659 462
    7 53,837 668 467
    8 54,505 676 473
    9 55,181 684 479
    10 55,865 693 485
    11 56,558 701 491
    12 57,259 710 497
    13 57,969 719 503
    14 58,688 728 509
    15 59,416 737 516
    16 60,152 746 522
    17 60,898 755 529
    18 61,653 765 535
    19 62,418 774 542
    20 63,192 784 549
    TOTAL $13,975 $9,783
  • 2
    LOCAL CD
    First-Lockhart National Bank
    0.60%
    -
    $50,000
    24 Month
    Bank
    0.91x (National Avg. - 0.66%)
    $100,000
     
    SCENARIO
    Year Rate
    0.60%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 300 210
    2 50,300 302 211
    3 50,602 304 213
    4 50,905 305 214
    5 51,211 307 215
    6 51,518 309 216
    7 51,827 311 218
    8 52,138 313 219
    9 52,451 315 220
    10 52,766 317 222
    11 53,082 318 223
    12 53,401 320 224
    13 53,721 322 226
    14 54,044 324 227
    15 54,368 326 228
    16 54,694 328 230
    17 55,022 330 231
    18 55,352 332 232
    19 55,684 334 234
    20 56,019 336 235
    TOTAL $6,355 $4,448

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    Last change: ↓0.50% on October 1, 2024.

    Last change: ↑0.20% on January 18.

    Last change: ↑0.20% on April 9.

    Last change: ↑0.26% on April 9.
    Early Withdrawal Penalty is 6 months interest.

    Last change: ↑0.10% on July 13.

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